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29344 Gateway Drive, Lake Elsinore, California 92530, Lake Elsinore, 92530 - 4 bed, 2 bath

29344 Gateway Drive, Lake Elsinore, California 92530 home-pic-0
ACTIVE$584,400
29344 Gateway Drive, Lake Elsinore, California 92530
4Beds
2Baths
1,771Sqft
12,197Lot
Year Built
2006
Close
-
List price
$584K
Original List price
$606K
Price/Sqft
$330
HOA
$130
Days on market
-
Sold On
-
MLS number
SW25031118
Home ConditionFair
Features
Good View: Hills
Patio
ViewHills

About this home

Possibly Over-Priced:The estimated price is 14% below the list price. We found 3 Cons,6 Pros. Rank: price - $584.4K(48th), sqft - 1771(47th), beds - 4(53th), baths - 2(50th).

Back on the market! Nestled in the tranquil Shore Pointe Community of Lake Elsinore, this charming 4-bedroom, 2-bathroom home offers 1,771 square feet of comfortable living space. The inviting open floor plan seamlessly connects the kitchen, dining area, and family room, creating a perfect space for gatherings. The kitchen features a convenient breakfast counter that flows into the cozy family room, complete with a fireplace. The master suite includes a walk-in closet and an en-suite bathroom with dual vanities. The low-maintenance backyard is fully cemented for easy upkeep. Located just minutes from the lake, shopping centers, restaurants, and with quick access to the I-15 freeway, this home combines comfort and convenience in a desirable neighborhood.

Nearby schools

6/10
Rice Canyon Elementary School
Public,•K-5•0.5mi
4/10
Terra Cotta Middle School
Public,•6-8•1.1mi
5/10
Lakeside High School
Public,•9-12•2.2mi
Condition Rating
Fair
The property, built in 2006, is 18 years old. While it features updated laminate flooring and fresh paint, the kitchen has dated tiled countertops and white appliances. The master bathroom also shows signs of being outdated with a dated light fixture and vinyl flooring. These elements suggest the home requires minor updates to meet current aesthetic standards, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12197, living area = 1771.
Prime Location & Accessibility: Located just minutes from Lake Elsinore, shopping centers, restaurants, and offers quick access to the I-15 freeway, enhancing convenience for residents.
Modern Construction & Desirable Community: Built in 2006, the home is relatively modern and situated within the tranquil Shore Pointe Community, suggesting a well-maintained and pleasant neighborhood environment.
Spacious & Functional Open Floor Plan: The inviting open floor plan seamlessly connects the kitchen, dining area, and family room, creating an ideal space for gatherings and comfortable living.
Generous Lot Size with Hills View: The property boasts a large 12,197 sqft lot, offering ample outdoor space and features a pleasant hills view.
Well-Appointed Master Suite: The master suite includes desirable amenities such as a walk-in closet and an en-suite bathroom with dual vanities, providing comfort and convenience.

Cons

Significant Overpricing/Valuation Gap: The current list price of $584,400 is substantially higher than the estimated property value of $501,084.81, and the property is back on the market after a price reduction from its original listing, indicating potential overvaluation.
Limited Backyard Appeal: While described as low-maintenance, the backyard is 'fully cemented,' which may lack green space and aesthetic appeal for buyers seeking a more natural or versatile outdoor living area.
Absence of Lake View: Unlike several comparable properties in the immediate area that offer desirable lake views, this home only provides hills views, which could impact its competitive standing and perceived value among potential buyers.

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